Huge pensions for retired government workers can be found from small municipalities to national governments on both sides of the Atlantic. There is a reason. For elected officials, pensions are virtually the ideal thing to spend money on, politically speaking. Many kinds of spending of the taxpayers' money win votes from the recipients. But...
As far as paying tomorrow for today's benefits, that's what our children are for. There is no reason to do without when our kids can easily pay the bills later on. In fact, this concept needs to be carried on further. People should be allowed to defer credit card payments and buy new cars using their kids as collateral. When the kids get to working age, the bills are assigned to them directly, and the payments will be taken from their paychecks. If necessary, the kids can be transferred to labor camps until the debt is worked off. Using this method, the current generation can live like kings, and if the kids don't like it, well tough. They can't vote, so who cares what they think about it?
A nation's choice between spending on military defense and spending on civilian goods has often been posed as "guns versus butter." But understanding the choices of many nations' political leaders might be helped by examining the contrast between their runaway spending on pensions while skimping on military defense.
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